MILWAUKEE -- Marshall & Ilsley Corp. said it would take a one-time merger-restructuring charge of $59 million after taxes for the second quarter, associated with its May 31 acquisition of Valley Bancorp. of Appleton, Wis.

The charge is in line with what management expected when the merger was announced in September 1993. It is attributed to employee severance and contract costs, a writeoff of duplicative software, write-downs of facilities and equipment to be sold, and miscellaneous other items.

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